The payment provider is committed to making payments greener, so the new Visa Sustainability Solutions team will cooperate with clients during their sustainable decision-making processes
The payments and financial services industry should accelerate sustainable consumption and behaviours. Source: unsplash.com
Visa in Europe has established a sustainability solutions team, led by Steve King, to cooperate with clients and partners across Visa’s network on sustainable payment solutions.
The team is already working with the existing Visa Eco-Benefits offering, which features a carbon footprint tracker, and with other partners to facilitate seamless payments for EV charging.
In addition, Visa has formed a new Visa Consulting & Analytics Sustainability Advisory Practice. It supports clients in creating their sustainability strategy, developing their roadmap and designing the business case for their eco-centric approach.
Plan A has also recently become Visa’s partner under the Visa Fintech Partner Connect programme. This sustainability initiative enables businesses to manage their net zero journeys in a single SaaS solution. It offers integrated and automated CO2 emission calculations, helping to set and achieve science-based carbon reduction targets.
Through the partnership with ecolytiq, Visa customers would be able to analyse payment data in real-time, receiving a picture of one’s individual environmental footprint. The product is integrated into the mobile banking app to guide clients to more sustainable choices.
According to a recent Visa survey, 46% of consumers have stopped buying from certain companies because of their negative impact on the environment or society. Moreover, 42% of European respondents said they would use their payment cards more often if a financial institution rewarded them for sustainable behaviours.
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